Prices rise ahead of 4Q contract negotiations

摘要

For the second week running, prices have ticked up in Asia. Two over seas cargoes and a domestic trader’s cargoes were sold into China in the $88-90/t cfr range this week, supporting sentiments that prices are fi rming - ahead of 4Q contract negotiations. A cargo has been sold into India within the low/mid-$90s/t cfr range this week and has added weight to the sentiment that prices in India have fi rmed with $93/t cfr a new minimum. Concluded business thus supports accounts of the market in Asia undergoing a bullish few weeks, with both Chinese and Indian cfr prices ticking up.